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Commercial property owners are in denial at the moment. I have a friend who wanted to open a small restaurant in our neighborhood. The building is mixed use so
by yardie 2y ago
Commercial property owners are in denial at the moment. I have a friend who wanted to open a small restaurant in our neighborhood. The building is mixed use so great foot traffic and great elevator traffic. They contact the realtor who sends back the terms and the terms were eye watering expensive. Since then multiple coffee shops have tried and failed within the same storefront. I'm guessing over 50% of revenue is going toward paying the lease. Now it's been empty for almost a year.
- SoftTalker 2y agoThat and the whole notion that a majority of people want to go to a bunch of little shops every day for food and supplies. I go to Kroger or Target once or twice a week and I'm set.
- estebank 2y agoIt doesn't have to be a majority of people, just enough people to be profitable. And in cities where people walk, that is the case.